EFIG in Forbes Middle East “Egypt’s Top 50 Listed Companies 2024”!
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Forbes Middle East has unveiled its list of Egypt's Top 50 Listed Companies for 2024, recognizing the most prominent and successful enterprises. eFinance Investment Group has earned a place in their list for the 3rd year in a row, highlighting our substantial influence in the financial services sector & reflecting the group's strong and growing presence in the market.Led by Chairman and CEO Ibrahim Sarhan, EFIG has made significant strides in the industry through our flagship subsidiary, eFinance for Digital Operations. This recognition by Forbes Middle East highlights the dynamic and robust nature of Egypt's business landscape, celebrating companies that drive economic growth and innovation & underscores EFIG's pivotal role in advancing Egypt's financial landscape. Forbes Middle East launched its inaugural list of Egypt's Top 50 Listed Companies in 2022, spotlighting the most valuable and profitable companies in the country, and eFinance Investment group has been a part of the list ever since.
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A Cooperation Protocol Between the Ministry of Social Solidarity, National Council for Women, Nasser Social Bank, and eFinance Investment Group
Dr. Maya Morsy, Minister of Social Solidarity; Counselor Amal Ammar, Chairperson of the National Council for Women; and Mr. Ibrahim Sarhan, Chairman and CEO of eFinance Investment Group, attended the signing of a cooperation protocol between the Ministry of Social Solidarity, the National Council for Women, Nasser Social Bank, and eFinance Investment Group. This protocol aims to provide economic empowerment services to families in need as part of the strategic financial system for economic empowerment.The protocol was signed by key figures, including Mr. Raafat Shafik, Assistant Minister for Social Protection and Economic Empowerment; Ms. Iman Khalifa, Secretary General of the National Council for Women; Mr. Osama El-Sayed, Vice Chairman of Nasser Social Bank; and Engineer Hossam El-Goly, CEO of eFinance.Minister Morsy emphasized that the protocol would benefit nearly 4 million women, aiming to shift them from dependency to empowerment. She highlighted the success of the "Tawheesha" digital savings and lending program, which financially integrates rural women into the official banking system and promotes financial literacy and digital inclusion.Counselor Amal Ammar praised the protocol as a major step in empowering women and integrating beneficiaries of "Takaful and Karama" programs into "Tawheesha." The program has received international recognition, including from the UN’s Commission on the Status of Women. She expressed gratitude to Minister Morsy for the collaboration.Mr. Ibrahim Sarhan of EFIG noted that the protocol aligns with the Prime Minister’s directives to leverage state infrastructure for economic empowerment, particularly targeting vulnerable families and social protection beneficiaries. He emphasized that eFinance has been a key partner in implementing these systems in Egypt, following regulatory guidelines from relevant authorities like the Central Bank of Egypt.
“Khadamat Misr” Opens its Mokattam branch to Enhance Access to Government Services
Egypt’s “Khadamat Misr” (Egypt’s Services Centre) opens its Mokattam branch in Cairo, offering citizens access to over 150 government services in a centralized location. The inauguration ceremony was attended by Egypt’s Ministers of Planning, Economic Development and International Cooperation, Local Development and Justice, along with the Governor of Cairo. “Khadamat Misr” is part of a government initiative designed to improve citizens' experiences with public services through digital transformation. The Mokattam center is the fourth of its kind in Egypt, following centers in Alexandria, Aswan, and South Sinai.H.E Dr. Rania A. Al-Mashat, Egypt’s Minister of Planning, Economic Development and International Cooperation, emphasized that the Mokattam branch is the first in Greater Cairo and aims to implement digital transformation to meet citizens’ needs, enhance financial inclusion, and improve electronic payment methods.The center provides a range of services, including documentation, real estate registration, issuing computerized certificates, renewing national ID cards, individual and family registration, criminal records, traffic services, civil status, passports, public prosecution services, commercial registry services, and social insurance. It also offers electronic payment services and a dedicated space for people with special needs.H.E Dr. Manal Awad, Minister of Local Development, highlighted the Mokattam center as a significant step in administrative reform, ensuring efficient and responsive government services. She noted that the project would expand to more governorates in the coming years.Operated by eFinance, the center aims to add over 200 services across 14 centers nationwide in the future.Since its soft launch, the Mokattam center has processed over 400,000 transactions with an average service delivery time of just seven minutes. Citizens can track services and get updates via the “Khadamat Misr” website and dedicated hotline.
eCards Rebrands to eNovate in Line with Its New Strategy for Development and Innovation
eCards, a subsidiary of eFinance Investment Group, has announced a rebrand, changing its name and logo to "eNovate" instead of "eCards," in line with the company's new strategy of innovation, development, and expansion into more services and activities.The new name signifies a blend of digital and electronic solutions, represented by the letter "E" as a common identity among all companies in the eFinance Investment Group, and "Novate," derived from the word "innovate."eNovate (formerly eCards) explained that the new name was chosen to build on its successes in supporting the digital transformation of many national projects for ministries, agencies, and banks over the past 15 years. The company has undergone several structural changes and added many innovative digital services to align with its new strategy, which aims to adapt to the changing dynamics of the market, prompting the need to develop both the name and the brand.Ibrahim Sarhan, Chairman of eNovate (formerly eCards), stated that the continuous and rapid developments in technology require all players in the sector to continue evolving, keeping up with new trends, and even contributing to change and innovation to meet market demands and expectations. He added that the eFinance Group is committed to continued development and investing heavily to strengthen the group's infrastructure and various subsidiaries, ensuring they are better positioned to keep up with developments and contribute strongly to innovation within Egypt’s and international financial technology markets, while expanding existing activities and adding new ones.On her part, Nashwa Kamel, CEO of eNovate (formerly eCards), noted that the company will undergo further development and expansion to support innovation and management, contributing to the creation of a competitive edge in the market by offering a range of unique and diverse services and products for managing and operating smart digital payment solutions. This includes updating and fully automating the card center and expanding into several new solutions and services.It is worth noting that eCards, a subsidiary of eFinance Investment Group, was established in 2020 to be the main arm for issuing and managing government and bank-issued cards, both banking and non-banking. The company has worked on digitizing payments for many large national projects and has issued more than 50 million cards over the years, including Takaful and Karama cards, the Falah Meeza card, pension cards, and many smart solutions for the transportation sector, among other projects with both public and private sectors in various fields.eCards has expanded its services to include integrated solutions for digital payment systems and provided innovative digital solutions for financial and non-financial institutions. Its aim is to enable organizations to adopt modern payment technologies and promote financial inclusion through digital services that facilitate safe and efficient electronic payment operations. Know More About eNovate